BLUF: Terms have come out on the new AmEx and Saks partnership, $50 Jan to June, another $50 July to Dec (not Sept as previously reported)! You don’t have to spend $50, the credit will apply like the airline credit. However gift cards are not going to be reimbursed. The credit only works at Saks 5th in store or online, and will NOT work at Saks off 5th.
I was successful in adding my Ameriprise, Schwab, MB, Morgan Stanley, and regular Platinum Cards. However when I tried to add my second Platinum (Upgraded form PRG) it kept on switching back to a card already enrolled. I contacted customer service via chat and got this:
I guess we are well ahead of the game, again!
Good to know that the enrollment period has started for the first wave of $50 bonuses for your AmEx Platinum Card. The terms are:
Shop Saks with Platinum (Effective July 1, 2018)Only the Basic Card Member or Authorized Account Manager(s) on a U.S. Consumer Platinum Card®Account can enroll in the benefit. Eligible purchases must be charged to the enrolled Card Account for the benefit to apply. Purchases by both the enrolled Basic Card Member and Additional Card Members on the eligible Card Account are eligible for statement credits. However, each Card Account is only eligible for up to a $50 statement credit from January through June and up to a $50 statement credit from July through December for a total of $100 per calendar year in statement credits across all Cards on the Account. Valid at Saks Fifth Avenue online or at locations in the US and US Territories. Not valid on Saks Fifth Avenue Gift Cards or purchases at outlet locations (in stores and online). Excludes purchases at restaurants located within the store and Online Bill Pay for Saks Credit. Not valid on online purchases shipped outside of the US. Please allow 2-4 weeks after an eligible purchase is charged to your Card Account for statement credit(s) to be posted to the Account. Please call the number on the back of the Card if statement credits have not posted after 4 weeks from the date of purchase. Note that American Express may not receive information about your eligible purchase from merchant until all items from your eligible purchase have been provided/shipped by merchant. Statement credit may be reversed if the eligible purchase is returned/cancelled. If American Express does not receive information that identifies your transaction as eligible for the benefit, you will not receive the statement credit. For example, your transaction will not be eligible if it is not made directly with the merchant. In addition, in most cases, you may not receive the statement credit if your transaction is made with an electronic wallet or through a third party or if the merchant uses a mobile or wireless card reader to process it. To be eligible for this benefit, Card Account(s) must be not canceled and not past due at the time of statement credits fulfillment. If a charge for an eligible purchase is included in a Pay Over Time feature balance on your Card Account, the statement credit associated with that charge may not be applied to that Pay Over Time feature balance. Instead, the statement credit may be applied to your Pay In Full balance. For additional information, call the number on the back of your Card.
- You don’t have to spend $50 each time (No Minimums)
- You will only get $50 Jan to June and another $50 July to December
- No gift cards
- No credit at Sacks Off 5th outlet locations
- Can be used online (idealy stacked with 4% cash back with ebates)